The Social Stability Administration is spreading misinformation about Trump’s reconciliation Monthly bill, falsely claiming it removes federal profits taxes on most retirees’ Gains.
It does so by giving an Increased deduction for taxpayers aged sixty five and more mature, ensuring that retirees can maintain more of what they gained.
Social Protection remains dedicated to furnishing well timed, exact information and facts to the public and can continue working closely with federal companions to make certain beneficiaries know how this laws might have an affect on them.
Thus, the additional $6000 deduction and no taxes on SS signifies Completely very little to us. We are handling the higher expenditures but have received nothing Using the passage on the BBB.
July twelve, 2025 3:20PM So basically, mainly because I’m 43 and receive SSDI this Monthly bill changes nothing for me Despite the fact that I labored Extensive Challenging hours to generate the very little little bit of cash that I do get… since amongst my spouse And that i, we do make under $150k a yr, but still enough that A part of mine is taken into account “taxable “
July 11, 2025 two:45PM I've seen a variance in the best way information and facts is offered by SSA. I see no specific information on how this impacts me for the long term. I'm 73 now and would love to see our Advantages not taxed. However, it’s a “I’ll think it Once i see it” report.
The brand new law features a provision that removes federal money taxes on Social Safety Positive aspects for most beneficiaries, offering aid to men and women and partners.
The bill makes certain that just about ninety% of Social Safety beneficiaries will not spend federal money taxes on their Positive aspects, offering meaningful and speedy aid to seniors that have put in a lifetime contributing to our country’s economic system.
By considerably reducing the tax burden on Rewards, this laws reaffirms President Trump’s promise to safeguard Social Protection and helps make certain that seniors can much better enjoy the retirement they’ve acquired.”
July 13, 2025 6:13PM If you and/or your husband or wife labored challenging for decades and the government took deductions for SS then Indeed, a citizen warrants the payments they promised you in retirement. Way too undesirable that a great number of citizens recreation the program and consider greater than they need to be entitled to more info receive.
July twelve, 2025 8:50PM You might be 1 which will benefit. Talk to your tax person- but as I understand it, you are able to submit a whole new withholding sort to own a lot less taken out OR you'll be able to claim the $6k at tax time. I’m not a specialist but that’s how I read through it.
There is not any modify inside the taxability of social safety Positive aspects. The Invoice only provides A brief bonus deduction of $6k for seniors sixty five+ and only earning down below $75k if Solitary or $150k if married.
July fifteen, 2025 eight:04AM I get a small pension in conjunction with my social safety regular. I have a little expenditure account. If I pull revenue out, it triggers my money to pass the cash flow limit and my SSI is taxed. here Will this even now be the situation?
July 10, 2025 six:24PM How is any one purported to believe in this Administration’s postings when they're basically biased and downright misleading? Like Other individuals posting on listed here, This is certainly absolutely nothing but gaslighting and fanfare. The specifics espoused are spurious to mention the least.
The information? The newly signed regulation is projected to even more to weaken the Social Security application and its profits. The SSA’s statement is really a blatant lie and falsely misrepresents the Monthly bill which was signed into law, and its hurt to retirees.
People today saying social stability Advantages who're below sixty five or above Individuals earning thresholds will see no tax gain.